Asset Recovery and Management Company Launches New Auction for Land in Nazarbayev’s Hometown

The Asset Recovery and Management Company (KUVa) has announced a new round of auctions for land in the village of Shamalgan in Almaty Region — the Nazarbayev family’s hometown, reports Orda.kz.

In February 2025, a 142-hectare plot was listed for auction at 127 million tenge. The land borders the scenic Ile-Alatau National Park and is designated for agricultural use.

However, no bids were submitted. The previous owner of the land has not been disclosed.

The same plot is now back on the auction block, with bidding scheduled for 12:00 on July 22.

The appraised value remains the same, but the starting price has been reduced to 89 million tenge.

An office building in the Bostandyq district of Almaty is also up for auction again. With a total area of nearly 4,000 square meters, the 10-story property was previously listed in February 2025 along with active lease agreements with commercial tenants. Its valuation stands at 4.3 billion tenge.

Orda.kz found that the building was once owned by Rent Investment Group LLP. No bids were submitted in the first round. A second auction is scheduled for July 22.

In addition to these known properties, the Asset Management Company has listed several new lots.

One is a 2,400-hectare plot in the Jambyl district of Almaty Region (Lot No. 524), with a starting price of 125 million tenge and an appraised value of 178.7 million. The auction is set for July 22.

This land is valued at 51.5 million tenge, with a starting price of 36 million. 

The final lot is a 964-hectare plot in Almaty Region, within the lands of the Temirjol rural district. It is appraised at 751 million tenge, with a starting price of 562.2 million. The land borders the 2,400-hectare lot and was formerly owned by Aysam.co. ltd, now renamed QAZ AGRO CENTRE.

Original Author: Alexandra Mokhireva